Beware Of Scams In Crypto - BCH Towns

With the increase in the hype of Metaverse and NFTs, the hype of Blockchain Gaming is also increasing. And so the rug-pulling thing.

Ah, wait where are you going, hah. You don't want to be scammed in Crypto then you have to read this lol.

But first, let's understand what is a Rug-Pull in Crypto is?

• It is a type of Crypto scam in which a team pumps a coin or token before its release and after the launch, they simply take out the funds dumping the coin to the lowest possible value.

I talked about a new Blockchain game in my recent article named BCH Towns based on the SmartBCH chain. And this project turned out to be another rugged project. This Play2Earn village building simulator scammed a lot of people here.

Gladly though excited for the game as it was a strategy type, I didn't invest in it due to issues in its site at the launch which alarmed me that a project just launched doesn't know how to solve simple website issues. So I stopped myself from investing in it as there was lots of confusion while staking its token. Along with the lack of lots of information which wasn't shown on its website.

And there were lots of early factors which were giving me shady and red signals but as not an experienced one I tried to believe in the project lol. Lesson learned now!

Some red signals which I found in this project are:-

• After the start of launch only I noticed someone already pulling the liquidity, bruh do you see people fools. We can see every transaction here, we may not be able to track you but can see whose behind it. And only developers can take out liquidity.

• Launching the project with a very cheap sketch-like animation.

• Also I read somewhere that a similar token named Towns was rug-pulled before the launch of BCH Towns.

• Their GitHub account was empty from day one before the sale.

I'm surprised that scammers have become so professional nowadays in scamming people as they promoted and advertised this project in such a way that no one would say that it's a scam as they did lots of AMA and even answered questions confidently in their telegram group. Even I attended some of the AMA's to understand the project.

Their website site is dead, the guy promoting is also dead for the internet. And I can't see their Telegram group also.

Final Thoughts

This shows us that no matter how good a project looks always do your own research and even if you are in 1% doubt. Never invest in it.

Either you may miss a good opportunity or a bad and devastating opportunity. And in Play2Earn games, the investment is very high. And it takes sometimes months to be on the profitable zone.

And so I have learnt my lesson not to have high hopes for new projects if you see flaws and red signals in them. Stay away from them.

SmartBCH chain, a sidechain of Bitcoin Cash is new and so projects like this are expected so be careful while investing guys. Never jump in seeing the hype and promotion.

What I most hated about this scam case is the fact that it used BCH's name to promote itself.

Oh, c'mon don't be bored. Give some time to understand the most futuristic thing for now.

Note:- I'm a simple newbie learner in Crypto any advice regarding this is most welcomed. And I never give any financial advice. These are just my thoughts and opinions.

*I am also on some other Platforms, Don't forget to connect with me.

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